United States Elevator and Escalator Market Forecast Report 2025-2030: Market to Reach 43,321 Units by 2030, Growing at 2.65% CAGR

Notable developments in the U.S. Elevator and Escalator Market include ATTA Elevators' U.S. expansion, Schindler's new MRL elevator, and OTIS's acquisition of Urban Elevator locations. The U.S. government's tariffs impact costs, affecting demand and favoring local manufacturing. AI integration and infrastructure investments create growth opportunities. Key players like Otis, KONE, and Schindler drive innovation amid rising public infrastructure spending. Challenges remain from tariffs and housing crisis effects on demand.

U.S. Elevator and Escalator Market

Dublin, June 12, 2025 (GLOBE NEWSWIRE) -- The "U.S. Elevator and Escalator Market - Size & Growth Forecast 2025-2030" report has been added to ResearchAndMarkets.com's offering.The U.S. Elevator and Escalator Market was sized at 37,026 units in 2024, and is projected to reach 43,321 units by 2030, rising at a CAGR of 2.65%.

Schindler, TK Elevators, KONE, OTIS, and Mitsubishi Electric are the top five vendors in the U.S. elevator and escalator market.

Other prominent players in the U.S. elevator and escalator market are Fujitec Co., Ltd, Hyundai Elevator Co., Ltd., Delaware Elevator, Inc., Day Elevator & Lift, American Crescent Elevator Corp., Godwin Elevator Company, and others. These leading players continuously innovate to provide state-of-the-art technology, ensuring safety, efficiency, and sustainability.

Recent Developments in the U.S. Elevator and Escalator Market

In 2024, ATTA Elevators, a leading elevator and escalator service provider based in Ontario, announced its expansion into the U.S. with an office in St. Louis, Missouri.

In April 2025, Schindler Elevator Corporation announced the launch of the Schindler 5000, which is a machine-room-less (MRL) elevator designed for low- to mid-rise offices, hotels, hospitals, and apartment complexes. This model is widely available in the U.S. market.

In April 2025, OTIS announced the acquisition of eight of the eleven Urban Elevator locations in the US.

KEY HIGHLIGHTS

The U.S. elevator market by installed base is expected to reach 1.26 million units by 2030.

Elevators used in the residential sector accounted for the largest share in 2024, despite low purchasing power due to high interest rates. The market is set to recover in 2025, pertaining to high government expenditure on construction projects.

The machine roomless traction segment accounted for the largest market share due to its space-saving design, energy efficiency, and ability to support green building initiatives.

The U.S. installed base escalators market is expected to reach 64.1 thousand units by 2030.

Escalators used in the commercial sector accounted for the largest share in 2024 due to increasing retail projects in the pipeline.

The parallel escalators segment accounted for the largest market share in 2024 due to the high construction of commercial buildings.

The modernization market of the U.S. elevator and escalator market is expected to reach USD 3.23 billion by 2030.

In Q1 2025, the American Society of Civil Engineers (ASCE) forecasted a total of USD 5.4 trillion in public and private infrastructure investments over the decade from 2024 to 2033.

In addition, in 2025, the U.S. is witnessing significant developments in Smart City Construction. For instance, the Retired Homer City Generating Station is ready to be transformed into a natural gas-powered data center campus.

In March 2025, Amtrak (National Railroad Passenger Corporation) stated that it will increase its expenditure by 50% to reach USD 6 billion in 2025.

In April 2025, Ledcor Development initiated the construction of Alara, a USD 107 million apartment complex in San Diego's Grantville neighborhood. This development will introduce over 200 new residential units, aiming to address the city's increasing housing demand.

US ELEVATOR AND ESCALATOR MARKET OPPORTUNITIES & DRIVERS

Integration of Artificial Intelligence (AI) in the U.S. Elevator and Escalator Market is Expected to Create Future Opportunities

The integration of AI in the U.S. elevator and escalator market reflects a growing trend in the modernization of urban infrastructure. AI-driven solutions enhance safety, efficiency, and user experience in public and private transportation systems.

AI monitors real-time data from sensors installed in elevators and escalators to predict and prevent potential malfunctions. This reduces downtime and improves the reliability of equipment. Companies, such as KONE and Otis, have already implemented AI-based predictive maintenance globally, including in the United States.

New Government Regulations and Technologies to Support the Demand for New Installations

In New York City, a retroactive code mandated the integration of escalator skirt deflectors by January 1, 2025. These deflectors are designed to prevent objects like clothing or shoes from becoming trapped between the escalator steps and side panels, thereby enhancing passenger safety. Building owners and managers were required to ensure compliance by the specified date.

In 2025, McGhee Tyson Airport announced it to replace its aging escalators. The airport's board awarded a USD 1.1 million contract in October 2024 to KONE, which will begin replacing the downward escalator in late 2025 and will replace the upward escalator in early 2026.

Increasing Investment in Public Infrastructure Development Is Driving the Demand

Public infrastructure projects increased by 6% through the first eight months of 2024 compared to the same period in 2023. Construction spending grew by more than 41% in the U.S. from April 2020 to July 2024.

As of February 2025, total construction spending in the United States recorded an adjusted annual rate of $2.195 trillion. This includes both public and private sector investments across residential and non-residential projects.

Major ongoing public infrastructure projects in the U.S., including the California High-Speed Rail, the Gateway Program (Hudson Tunnel Project), and expansions of major airports like JFK and O'Hare, along with various highway and rail projects, are projected to drive the demand for vertical transportation solutions over the forecast period and contribute to the U.S. elevator and escalator market growth.

Increasing Investment in the Manufacturing Sector to Drive Demand for Freight Elevators in the U.S. Elevator and Escalator Market

The value of U.S. manufacturing output has continued to increase, reaching almost USD 3 trillion in 2024 (equal to 10 per % of total GDP).

In June 2024, government expenditure in the manufacturing sector was directed towards building new and expanding existing manufacturing facilities, which reached a new record of USD 238 billion.

In March 2025, GE Aerospace planned to invest approximately USD 1 billion in its U.S. factories and supply chain to strengthen manufacturing.

INDUSTRY RESTRAINTS

Housing Crisis in the Country Hampering Demand

The shortage has driven up home prices and rents, making housing less affordable and slowing down real estate activity. The median United States home price in January 2025 was $418,000, up around 45% from $289,000 five years ago.

Low housing starts in the U.S. are directly impacting the development of residential projects, reducing demand for elevators and impacting the U.S. elevator and escalator market growth.

In addition, large institutional investors are increasingly buying up properties, which is limiting options for individual buyers. Meanwhile, mortgage rates, which peaked at approximately 7% in 2025, have discouraged both buyers and sellers, limiting transactions and delaying developments.

Surge in Building Material Prices

In March 2025, the U.S. government imposed 25% tariffs on steel and aluminum imports, aiming to bolster domestic production. These tariffs have led to increased costs for construction materials, as builders rely heavily on these imports.

Furthermore, in early 2025, non-residential materials prices increased at an annualized rate of 9%, reflecting a rush among builders to procure materials ahead of anticipated price hikes (post new tariffs).

Meanwhile, in January 2025, prices also increased for all three energy subcategories, namely, crude petroleum prices increased 14.8%, while natural gas and unprocessed energy material prices increased 13.7% and 13%, respectively.

US ELEVATOR AND ESCALATOR MARKET VENDOR LANDSCAPE

Key Vendors

Otis

KONE

TK Elevator

Schindler

Mitsubishi Electric

Hyundai Elevator

Fujitec

Other Prominent Vendors

MEI Total Elevator Solutions

Delaware Elevator

Day Elevator and Lift

Liberty Elevator

AVT Beckett

American Crescent Elevator Manufacturing

Access Elevator & Lifts, Inc. (AEL)

Godwin Elevator

Action Elevator Company

Key Attributes:

Report Attribute

Details

No. of Pages

123

Forecast Period

2024 - 2030

Estimated Market Value in 2024

37026 Units

Forecasted Market Value by 2030

43321 Units

Compound Annual Growth Rate

2.6%

Regions Covered

United States

Elevator Market Segmentation by

Machine Type

Hydraulic and Pneumatic

Machine Room Traction

Machine Room Less Traction

Others

Climbing

Elevators

Industrial Elevators

Carriage Type

Passenger

Freight

Capacity

2-15 Persons

16-24 Persons

25-33 Persons

34 Persons and Above

End-User

Commercial

Residential

Industrial

Others

Public Transit

Institutional

Infrastructural

Escalator Market Segmentation by

Product Type

Parallel

Multi Parallel

Walkway

Crisscross

End-User

Public Transit

Commercial

Others

Institutional Sector

Infrastructure

Industrial

For more information about this report visit https://www.researchandmarkets.com/r/mvqkgz

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U.S. Elevator and Escalator Market

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